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Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Future Enterprises standalone net profit rises 615.37% in the June 2016 quarter

Sep 14,2016

Net profit of Future Enterprises rose 615.37% to Rs 315.48 crore in the quarter ended June 2016 as against Rs 44.10 crore during the previous quarter ended June 2015. Sales declined 67.64% to Rs 921.19 crore in the quarter ended June 2016 as against Rs 2846.84 crore during the previous quarter ended June 2015.

ParticularsQuarter Ended
n++Jun. 2016Jun. 2015% Var.
Sales921.192846.84-68
OPM %24.969.91-
PBDT295.07184.1360
PBT142.3249.92185
NP315.4844.10615

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Escorts announces resignation of director
Sep 22,2016

Escorts announced that Dr. S. A. Dave, Independent Director has resigned from the Board of the Company vide his letter dated 20 September 2016.

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Hathway Bhawani Cabletel & Datacom announces resignation of MD & CEO
Sep 22,2016

Hathway Bhawani Cabletel & Datacom announced that Samson Jesudas, Managing Director & Chief Executive Officer, the Key Managerial Personnel, has tendered his resignation with effect from 21 September 2016.

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Inox Leisure intimates of hike in investment limit by FIIs/ RFPIs under PIS
Sep 22,2016

Inox Leisure has announced that the Reserve Bank of India has notified that Foreign Institutional Investors (FIIs)/ Registered Foreign Portfolios Investors (RFPIs) can now invest from existing 24% upto 49% of the paid up capital of the Company under Portfolio Investment Scheme.

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Raymond provides update on subsidiary
Sep 22,2016

Raymond announced that Ring Plus Aqua (RPAL), an unlisted subsidiary of Raymond has entered into a Share Purchase Agreement with Neel Metals Products, to transfer by way of sale its entire equity share holding of 1,04,30,631 equity shares in its 50:50 Joint Venture Company namely; Rose Engineered Products India (ROSE).

Consequent to said transaction ROSE ceases to be an Associate of RPAL and Raymond. The Enterprise Value of ROSE was arrived at Rs. 20.19 crore.

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Mineral Production during July 2016 was 0.8% higher as compared to July 2015
Sep 22,2016

The index of mineral production of mining and quarrying sector for the month of July (new Series 2004-05=100) 2016 at 118.7, was 0.8% higher as compared to July 2015. The cumulative growth for the period April- July 2016-17 over the corresponding period of previous year stands at (+) 2.0%.

The total value of mineral production (excluding atomic & minor minerals) in the country during July 2016 was Rs. 17339 crore. The contribution of Coal was the highest at Rs. 6238 crore (36%). Next in the order of importance were: Petroleum (crude) Rs. 5593 crore, Natural gas (utilized) Rs. 2165 crore, Iron ore Rs. 1347 crore, Limestone Rs. 554 crore and Lignite Rs.535 crore. These six minerals together contributed about 95% of the total value of mineral production in July 2016.

Production level of important minerals in July 2016 were: Coal 442 lakh tonnes, Lignite 30 lakh tonnes, Natural gas (utilized) 2618 million cu. m., Petroleum (crude) 31 lakh tonnes, Bauxite 1972 thousand tonnes, Chromite 177 thousand tonnes, Copper conc. 11 thousand tonnes, Gold 172 kg., Iron ore 115 lakh tonnes, Lead conc. 22 thousand tonnes, Manganese ore 150 thousand tonnes, Zinc conc. 89 thousand tonnes, Apatite & Phosphorite 54 thousand tonnes, Limestone 253 lakh tonnes, Magnesite 17 thousand tonnes and Diamond 3100 carat.

The production of important minerals showing positive growth during July 2016 over July 2015 include Gold (19.4%), Coal (4.7%), Natural gas (utilized) (4.4%), Lead conc. (3.0%), Chromite (2.1%), Manganese ore (1.2%), Iron ore (0.7%) and Limestone (0.3%) . The production of other important minerals showing negative growth are: Apatite & Phosphorite [(-) 72.6%], Zinc conc. [(-) 31.4%], Magnesite [(-) 31.3%], Bauxite [(-) 31.0%], Copper conc. [(-) 16.5%], Diamond [(-) 15.3%], Petroleum (crude) [(-) 1.8%] and Lignite [(-) 1.6%].

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Syngene International scales record high after completing acquisition deal with Strand Life Sciences
Sep 22,2016

The announcement was made after market hours yesterday, 21 September 2016.

Meanwhile, the S&P BSE Sensex was up 268.83 points, or 0.94%, to 28,776.25

On BSE, so far 66,000 shares were traded in the counter, compared with average daily volume of 27,623 shares in the past one quarter. The stock hit a high of Rs 524.45 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 500 so far during the day. The stock hit a 52-week low of Rs 315 on 23 September 2015. The stock had outperformed the market over the past 30 days till 21 September 2016, advancing 13.41% compared with 1.85% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 20.23% as against Sensexs 5.57% rise.

The mid-cap company has equity capital of Rs 200 crore. Face value per share is Rs 10.

Syngene International and Strand Life Sciences, yesterday, 21 September 2016, announced that they have completed a deal through which Syngene International has purchased assets of Strand Life Sciences related to systems biology, Heptox and pharma bioinformatics services. This includes target dossier business and rights to NGS data analytics and Sarchitect platforms, supported by a strong scientific team, as per the joint press release issued by Syngene International and Strand Life Sciences. Financial details of the deal were not disclosed. This deal gives Syngene access to Strands patented Virtual Liver model and the NGS analytics platform. The Virtual Liver model is able to predict the toxic effect of different drugs or chemicals on the liver (both rat and human) using information from laboratorybased experiments prior to actual testing on live animals or humans, the two companies said. Strand NGS is an integrated platform that provides analysis, management and visualization tools for next-generation sequencing data.

Bioinformatics is a rapidly emerging area that promises tremendous growth potential. Companies involved in pharmaceutical, cosmetics, FMCG and agro-biotech R&D have strong focus on genomics, and need sound bioinformatics applications and platforms for developing better therapeutics and products. According to Transparency Market Research, the global bioinformatics market was estimated at $2.3 billion in 2012 and is forecasted to reach a market size of $9.1 billion in 2018, at a CAGR of 25.4%.

Syngene Internationals net profit rose 28.33% to Rs 59.80 crore on 17.92% rise in net sales to Rs 269.20 crore in Q1 June 2016 over Q1 June 2015.

Promoted by Biocon, Syngene International is a leading India-based contract research organization (CRO) offering a suite of integrated and end-to-end discovery and development services for novel molecular entities (NMEs) across industrial sectors. Biocon holds 74.55% stake in Syngene, as per the shareholding pattern as on 30 June 2016.

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Outcome of board meeting of Aayush Food And Herbs
Sep 22,2016

Aayush Food And Herbs announced that the Board of Directors of the Company in their meeting held on 21 September 2016, have recognized Pallavi Mittal and Ashish Mittal as the promoter of the Company upon completion of Open Offer formalities.

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Multi Commodity Exchange of India announces cessation of directors
Sep 22,2016

Multi Commodity Exchange of India announced that further to the proceedings of AGM of the Company held on 19 September 2016 and the voting results thereof submitted to BSE, it may be noted that the following shareholder directors have ceased to be on the Board of MCX from the conclusion of the AGM:

1. Ajai Kumar
2. MAK Prabhu

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Bhushan Steel announces cessation of director
Sep 22,2016

Bhushan Steel announced that Monica Aggarwal who was appointed as an Additional Independent Director of the Company on 03 September 2016 to hold office upto the date of the Annual general meeting, ceased to be director of the Company as she could not be regularised in the said Annual general meeting.

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Praj Industries allots equity shares
Sep 22,2016

Praj Industries announced that pursuant to the provisions of the Praj Employee Stock Option Plan 2011, some of the option grantees have exercised 1,15,910 Stock grants equivalent to 1,15,910 Equity shares of face value Rs. 2/- each of the Company.

Accordingly, the duly authorised Compensation & Share Allotment Committee of the Board of Directors of the Company has allotted 1,15,910 Equity shares on 21 September 2016 at an exercise price of Rs. 55.75 per Equity share to the option grantees in terms of Praj Employee Stock Option Plan 2011.

Consequently, the issued, subscribed and paid- up share capital of the Company stands increased to 178,378,756 Equity shares of Rs. 2/- each.

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NTPC to pay final dividend for FY 2016
Sep 22,2016

NTPC announced that final dividend of Rs 1.75 per share shall be paid on 30 September 2016.

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Yuken India to divest its foundaries busienss at Mahadevapura & Malur
Sep 22,2016

Yuken India announced that the Board of Directors of the Company has approved the proposal to enter into an agreement with Grotek Enterprises, Bangalore, which is going to be a 100% subsidiary of Yuken India limited, for divesting the Companys foundries business (undertaking) operated at Mahadevapura, Bangalore and Malur, Kolar District on slump sale basis, effective 01 October 2016.

The transaction is pursuant to section 180(1)(a) of the Companies Act, 2013, and is subject to the approval of shareholders and other regulatory bodies as applicable. The value of the transaction will be determined based on the Due Diligence and the valuation of the business undertaking by the consultants and advisors appointed for the said purpose.

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OECD warns weak trade and financial distortions damage global growth prospects
Sep 22,2016

The global economy is projected to grow at a slower pace this year than in 2015, with only a modest uptick expected in 2017. The Outlook warns that a low-growth trap has taken root, as poor growth expectations further depress trade, investment, productivity and wages.

Over the past few years, the rate of global trade growth has halved relative to the pre-crisis period, and it declined further in recent quarters, with the weakness concentrated in Asia. While low investment has played a role, rebalancing in China and a reversal in the development of global value chains could signal permanently lower trade growth, leading to weaker productivity growth. Lack of progress - together with some backtracking - on the opening of global markets to trade has added to the slowdown.

Exceptionally low - and in some cases negative - interest rates are distorting financial markets and raising risks across the financial system. A disconnect between rising bond and equity prices and falling profit and growth expectations, combined with over-heating real estate markets in many countries, increases the vulnerability of investors to a sharp correction in asset prices.

n++The marked slowdown in world trade underlines concerns about the robustness of the economy and the difficulties in exiting the low-growth trap,n++ said OECD Chief Economist Catherine L. Mann. n++While weak demand is surely playing a role in the trade slowdown, a lack of political support for trade policies whose benefits could be widely shared is of deep concern.

n++Monetary policy is becoming over-burdened. Countries must implement fiscal and structural policy actions to reduce the over-reliance on central banks and ensure opportunity and prosperity for future generations.n++

The OECD projects that the global economy will grow by 2.9 percent this year and 3.2 percent in 2017, which is well below long-run averages of around 3n++ percent.

The small downgrade in the global outlook since the previous Economic Outlook in June 2016 reflects downgrades in major advanced economies, notably the United Kingdom for 2017, offset by a gradual improvement in major emerging-market commodity producers.

Growth among the major advanced economies will be subdued. In the United States, where solid consumption and job growth is countered by weak investment, growth is estimated at 1.4 percent this year and 2.1 percent in 2017. The euro area is projected to grow at a 1.5 percent rate in 2016 and a 1.4 percent pace in 2017. Germany is forecast to grow by 1.8 percent in 2016 and 1.5 percent in 2017, France by 1.3 percent in both 2016 and 2017, while Italy will see a 0.8 percent growth rate this year and next.

In the United Kingdom, growth is slowing following the 23 June referendum to leave the European Union. While a strong response from the Bank of England has helped stabilise markets, uncertainty remains extremely high and risks are clearly on the downside. In this environment, the UK is projected to grow by 1.8 percent in 2016 and 1 percent in 2017, well below the pace in recent years.

Growth in Japan will remain weak and uneven, at 0.6 percent in 2016 and 0.7 percent in 2017, with the appreciation of the yen and weak Asian trade weighing on exports. Canadian growth is projected at 1.2 percent this year and 2.3 percent in 2017.

China is expected to continue facing challenges as it rebalances its economy from manufacturing-led demand toward consumption and services. Chinese growth is forecast at 6.5 percent in 2016 and 6.2 percent in 2017. India will continue to grow robustly, by 7.4 percent in 2016 and 7.5 percent in 2017. Despite some improvements, Brazils economy continues experiencing a deep recession, and is expected to shrink by 3.3 percent this year and a further 0.3 percent in 2017.

The Interim Economic Outlook renews calls for a stronger collective response using fiscal, structural and trade policies to boost growth. On the fiscal front, low interest rates offer governments additional fiscal space for investing in human capital and physical infrastructure to promote short-term demand, long-term output and inclusiveness.

On the structural side, more ambitious policies are needed, particularly those that boost trade, including commitments to stand still on new protectionist measures, roll back existing ones and urgently tackle other obstacles to trade and investment.

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Godrej Properties gains after acquiring land to build housing project
Sep 22,2016

The announcement was made after market hours yesterday, 21 September 2016.

Meanwhile, the BSE Sensex was up 290.38 points, or 1.02%, to 28,797.80.

On BSE, so far 8,670 shares were traded in the counter, compared with average daily volume of 56,297 shares in the past one quarter. The stock hit a high of Rs 345.95 and a low of Rs 340.20 so far during the day. The stock hit a 52-week high of Rs 386 on 9 August 2016. The stock hit a 52-week low of Rs 266.40 on 29 February 2016. The stock had underperformed the market over the past one month till 21 September 2016, falling 6.91% compared with 1.53% rise in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 0.25% as against Sensexs 6.32% rise.

The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.

Godrej Properties announced that it has acquired a land parcel measuring around 12 acres off Sarjapur Road in South Bangalore. The company plans to develop a residential housing project of approximately 92,900 square meters or around one million square feet. This project will be developed in partnership with Godrej Residential Investment Program II (GRIP II). This is the second project under GRIP II, the $275 million fund which was announced by the company in March 2016.

Godrej Properties had announced on 21 March 2016 that it had created a dedicated real estate funds management business in India and Singapore namely, Godrej Fund Management (GFM). GFM raised a $275 million or Rs 1900 crore pool of capital, Godrej Residential Investment Program II (GRIP II) with Dutch pension fund asset manager APG Asset Management N.V. (APG) as the lead investor. GFM advises GRIP II investors on investments into a residential development platform with Godrej Properties in India.

Godrej Properties consolidated net profit rose 9.2% to Rs 43.48 crore on 87.6% rise in net sales to Rs 234.76 crore in Q1 June 2016 over Q1 June 2015.

Godrej Properties is a real estate company.

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Apex Council Meeting Decides to Set up Telemetry System and Joint Teams for River Basin Study
Sep 22,2016

The Apex council meeting on Krishna river held in New Delhi today decided for setting up telemetry systems for water gauging on river Krishna to provide upto date data on flow of water in the river. The council under the Chairpersonship of Union Water Resources, River Development and Ganga Rejuvenation Sushri Uma Bharti also decided to constitute joint teams for river basin study of both the states. The joint teams will have experts from both the States and Centre. The teams will give their report about water sharing which will be forwarded to Krishna tribunal for speedy decision. Briefing media after the meeting Sushri Bharti said the meeting was held in a very cordial atmosphere. She said both the states will continue consultation on official levels on other related issues. The meeting was attended by Chief Minister of Andhra Pradesh Shri N Chandrababu Naidu and Chief Minister of Telangana Shri K Chandrashekar Rao.

Referring to todays cabinet approval for setting up of National Council for River Ganga, the Minister called it a turning point in Ganga Rejuvenation programme of the government. Sushri Bharti said this decision will give more teeth to the NMCG for environmental protection of river Ganga. The Minister said in order to ensure transparency and cost effectiveness, a provision for concurrent audit and safety audit has been made. She said this move will ensure effective abatement of pollution in Ganga and will help in maintaining ecological flow of the river. The Minister informed that by next week tenders will be issued for taping 22 major drains of 11 towns which account for 90 per cent of sewer flow into Ganga on hybrid annuity mode.

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